Which of the following taxes paid by the Fowlers Company can be deducted during 2016?
I.State sales tax on utilities.
II.Federal income tax paid in 2016 when filing Fowlers' 2015 corporate tax return.

Question

Which of the following taxes paid by the Fowlers Company can be deducted during 2016?
I.State sales tax on utilities.
II.Federal income tax paid in 2016 when filing Fowlers' 2015 corporate tax return.
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Quizplus · Accepted Answer

State sales tax on utilities is generally deductible as a business expense, whereas federal income tax is not deductible for corporations.

Which of the Following Taxes Paid by the Fowlers Company